Renting is now here! Voxie Tactics is proud to release a new feature in the VoxieVerse! With the launch of Renting, holders and players now come together, enhancing the gameplay experience and allowing holders to gain passive revenue from their owned NFT items!
Want to learn more?
Read on to learn all the exciting new details!
What is Renting?
Renting represents a leap forward in on-chain asset control, distribution, and gameplay for web3. It allows players to try out new items or new Voxie characters to uncover the best strategies for their playstyle with more flexibility and at a much lower cost than purchasing.
It’s very similar to renting an item IRL! Owners and players can now rent an existing Voxie NFT for a fee!
Why Launch Renting Now?
We’ve had lots of exciting things happening lately, including the Voxies NFTs transition to Polygon and the introduction to the Arcanist’s Forge where players can upgrade items.
Launching Renting is another key step!
We’re building this all together as we aspire to give our players the best opportunity to have enjoyable and unique experiences for outstanding game play.
How Does Renting Work?
For the rentee, renting gives the ability to experiment by trying out a much larger variety of classes, races, pets, weapons and armors to find the best strategy for their play style. Want to try out a Godly Dread Knight Voxie with all Ash Armor Legendary gear for a week? This is now possible with the ability to rent those assets from other players.
For the renter, wouldn’t it be great if you could earn a little bit of extra VOXEL while you were on vacation or working? What if you just got a great new sword after a battle victory but you couldn’t use it with your existing party? Previously those items would go unused until you were ready to play with them or sell them. However now it is possible to rent your unused assets so other players can enjoy them when you don’t want to and generate value from the assets you have earned.
Renting enables players to generate value from their unused NFTs without selling them. Because AlwaysGeekyGames wants to provide the utmost in value and security to our community, the feature also creates a safe and structured environment for players and owners to rent Voxies NFTs and Voxie Tactics items.
5 Criteria Owners Can Set Before Renting
We have provided 5 criteria for renters to select from before initiating the rental process.
- Plan the duration of the Rental agreement (up to 30 days)
- Set a flat VOXEL rental fee.
- Set a % of VOXEL game rewards* to be received by owner and player (up to a max of 100% combined for all rentals).
- Decide who receives the NFT rewards during the rental — the owner or the player.
- (Optional) Reserve to a specific wallet address
- Seasonal VOXEL rewards are not included
How Does the Rewards Distribution Work?
Just like buying and selling on the Voxies Marketplace, players will continue to benefit from the low royalty fee of only 4% when it comes to Renting! This means that owners and players will receive 96% of the VOXEL that is set in the rental agreement.
For example, if an owner sets a flat rental fee of 100 VOXEL, opts to receive 50% of the rewards and decides to not receive NFT rewards from the player, the breakdown will be as follows:
Flat VOXEL Rental Fee
- Player pays 100 VOXEL
- Owner receives 96 VOXEL
- AlwaysGeeky Games receives 4 VOXEL
% of VOXEL Game Rewards (if player earns 100 VOXEL during the course of the rental)
- Player receives 48 VOXEL
- Owner receives 48 VOXEL
- AlwaysGeeky Games receives 4 VOXEL
- Player receives all NFT rewards
- Owner does not receive NFT rewards
- AlwaysGeeky Games never receives NFT rewards
How does it looks on the Marketplace?
If you are familiar with buying and selling on the Voxie Marketplace, you will feel right at home! The owner will now have the ability to select “Rent” as the bundle type. From there, the form will now ask for all of the details of the rental agreement. Here is what it looks like from the owner’s account page:
Once the rental has been listed on the Voxie Marketplace, fellow players will be able to browse your listing and see what the rental agreement looks like (% rewards, fee, etc). From there, they can either rent the NFT(s) or make an offer. Here’s what the listing page looks like:
AlwaysGeeky Games continues to look at launching new features that can expand play in the Voxie Tactics community while offering new ways to utilize NFT items. Renting promises to be another exciting new feature that will do just that!
We are proud to announce the launch of Renting on Friday October 14th, 2022! Get your wallet ready and check out the Voxies Markeplace and start Renting!
Frequently Asked Questions
What if I want to rent my NFT to a friend?
Good news! You will have the ability to reserve and NFT for rent to a specific wallet address. Other players will also have the ability to make offers should you change your mind and decide to rent to somebody else.
How are seasonal rewards shared between owners and players?
When renting NFTs, 100% of the seasonal rewards remain with the player. For larger teams (ie guilds) we are working on a new feature that will allow sharing of the seasonal rewards between members & also simplify asset management. We will announce additional details at a later date.
What happens if the % of VOXEL Game Rewards goes over 100%?
As a player, you cannot agree to rentals if the share % of your rental goes over 100%. This means that you would not be able to rent NFTs if the owner is asking for more than you can agree to. The good news is that you have the ability to make an offer to the Owner for a lower % in the hopes that the owner will accept or even sweeten the deal by including a flat VOXEL fee in your offer.
What happens when the rental period is over?
Immediately after the rental period is over, the player loses access to the NFT(s) that were rented. From that point, the owner will be able to claim their NFT from the Voxies Marketplace.
As a player, are my rewards still subject to the rental agreement if I’m not using the rented assets in game?
Yes! To ensure that the rental agreement is fair for both parties, the reward sharing will apply regardless if you use the rented NFTs or not.
To note: The Voxies NFT bonus increase only applies if the Voxie is brought to the battlefield.
Can I cancel a rental agreement?
For the player: Absolutely! Players can cancel the rental agreement at any point. This will immediately cancel the Reward sharing but any flat VOXEL rental fee will be forfeited.
For the owner: Yes but only if the flat VOXEL rental fee was set to 0 VOXEL. If the player had to pay a flat VOXEL rental fee, the rental agreement can only be canceled by the player (see above)
How is AlwaysGeeky Games keeping my NFTs safe during the rental period?
During the rental period, your NFTs will be held in a smart contract. This means that the player renting your NFTs will not have direct access to your NFT. You, as the owner, will be the only person that can claim the NFTs once the rental period is over or canceled.